menu icon

Sify Infinit Spaces leases over 1.5 lakh sq ft office space in Hyderabad

Wednesday 9th August 2023

Sify Infinit Spaces, a subsidiary of Sify Technologies, an Information and communications technology (ICT) company, has recently leased more than 1.5 lakh sq ft of office space in Hyderabad. The office is situated in Nanakramguda, within the financial district of Hyderabad, and spans across five floors with a lease period of 60 months. ...

Read More

Noida: NCLAT allows Sequel Buildcon to finish housing project

Wednesday 9th August 2023

The National Company Law Appellate Tribunal (NCLAT) has granted permission for a reverse corporate insolvency resolution process (CIRP) for a group housing project in Sector 79. The project will be overseen by an interim resolution professional (IRP). This decision was made after the developer provided assurance that they would complete the project within a specified timeframe and secure interim finance for the same. ...

Read More

Real estate agents cannot operate from homes, commercial address must for registration: Delhi-RERA chairman

Wednesday 9th August 2023

The Chairman of Delhi's Real Estate Regulatory Authority (RERA), Anand Kumar, emphasized that all real estate projects, whether in planned or unplanned areas of Delhi, fall under RERA's purview and must be registered with the Act. Additionally, he stated that real estate agents are not permitted to operate from residential addresses and must maintain a commercial office for which property tax has been duly paid. Kumar issued a stern warning to builders and developers, cautioning them against promoting false narratives to sell properties in projects without RERA registration. He emphasized that strict action will be taken against such offenders, and there will be no leniency from RERA in this matter. He stressed that plots larger than 500 square metres and projects featuring more than eight units, including shops, flats, apartments, or commercial spaces, are mandated to be registered under RERA. ...

Read More

Hostel rent not exempt from GST, to attract 12% tax: AAR

Wednesday 9th August 2023

In two distinct instances, the GST Authority for Advance Rulings (AAR) has ruled that hostel rent paid by occupants does not fall under the category of 'residential dwelling' and, therefore, does not qualify for goods and services tax (GST) exemption. Additionally, the AAR highlighted that the exemption from GST for hostel accommodation tariffs below Rs 1,000 per day was applicable only up to July 17, 2022. Consequently, hostel rent will be subject to a 12% GST rate. ...

Read More

Dues stuck, Noida authority plans escrow accounts for 59 developers

Wednesday 9th August 2023

The Noida Authority has taken the decision to establish escrow accounts for 59 developers who have failed to meet their payment obligations. The main objective of this step is to recover outstanding dues and minimize financial losses. Investigations have revealed that several developers diverted funds meant for one project to other ventures. By creating escrow accounts, developers are required to deposit 50% of the funds collected from homebuyers and other sources. This measure allows the Authority, currently grappling with losses, to access a portion of these funds as needed. Both the developers and the Authority will jointly manage these escrow accounts. ...

Read More

Display QR code in ads or face up to Rs 50,000 fine, Maharashtra builders warned

Wednesday 9th August 2023

Starting from August 1, developers across the state of Maharashtra have been instructed by the Maharashtra Real Estate Regulatory Authority (MahaRERA) to prominently display the QR code of their real estate project in advertisements on various platforms. Failure to comply with this requirement may result in penalties ranging from Rs 10,000 to Rs 50,000. If a promoter does not rectify the violation within 10 days after the penalty is imposed, appropriate action will be taken against them, as stated by a MahaRERA official. ...

Read More

MahaRERA clears 290 of 450 projects after verification

Wednesday 9th August 2023

In the past 40 days, the Maharashtra Real Estate Regulatory Authority (MahaRERA) has approved the registration of 290 projects out of a total of 450 applications received from builders. The approval process involved thorough verification conducted by local authorities, including the Pune Municipal Corporation in Pune. To ensure authenticity, these local authorities were instructed to send the commencement certificates (CC) of the projects from their official email ID to MahaRERA for verification and subsequent registration starting from June 19. This measure was taken in response to the submission of fake documents for project registration in Kalyan Dombivali. ...

Read More

Income tax department raids on DN Group offices in Odisha

Wednesday 9th August 2023

For the second consecutive day, Income Tax Department officials carried out raids at 20 locations associated with DN Group, a prominent real estate company based in Odisha, on charges of tax evasion. Although both the company and the IT department have not provided any official statements regarding the ongoing situation, sources revealed that the raids persisted at the director's residence, staff members' residences, and the company's office in IRC Village. Notably, a significant sum of cash, approximately Rs 9 crore, was allegedly seized from the home of an employee residing in Unit-4. ...

Read More

HDFC sells more bad loans to ACRE ARC

Thursday 6th July 2023

HDFC Bank, which recently merged with HDFC, has successfully sold a collection of eight real estate accounts to Assets Care and Reconstruction Enterprise (ACRE) ARC for a total value of ?305 crore. The portfolio includes well-known entities such as Tridhaatu Realty, ATS Infra, Paranjape Schemes, and Puranik Builders. The combined outstanding loan amount for these accounts was approximately ?1,300 crore, resulting in an immediate recovery of around 23%. ACRE ARC, supported by Ares SSG, emerged as the primary bidder by offering ?305 crore in upfront cash for the acquisition. Furthermore, HDFC is entitled to receive 65% of any recoveries above ?85 crore for one group of accounts. ...

Read More

Prestige to develop 1.1 million sq ft IT park on seven acres in Chennai

Thursday 6th July 2023

Prestige Group, a property developer based in Bengaluru, has recently formed a joint venture with WS Industries, located in Chennai, to collaborate on the development of a 1.1 million sqft IT park. This park will be constructed on a seven-acre plot of prime land situated on Mount Poonamallee Road. It is worth noting that the size of the upcoming park is comparable to that of Tidel Park, which was the city's pioneering mega tech park established in 2000, spanning 1.2 million sqft. ...

Read More

HDFC looks at promoter offer for two Radisson Blu hotels

Wednesday 5th July 2023

Currently, HDFC, which recently merged with HDFC Bank on July 1st, is in the process of considering a one-time settlement (OTS) proposal put forth by promoter DP Jain regarding the sale of two Radisson Blu hotels located in Ghaziabad, situated on the outskirts of New Delhi. The promoter has made an offer of ?315 crore, while Prudent ARC has submitted a binding offer of ?311 crore, and HDFC is carefully evaluating these options. ...

Read More

Piramal Capital & Housing Finance to sell more loans for Rs 1,669 crore

Wednesday 5th July 2023

Piramal Capital & Housing Finance is currently engaged in discussions to sell a distressed loan portfolio amounting to ?2,437 crore, which is spread across 14 accounts, to JM Financial ARC for ?1,669 crore. This proposed transaction would result in a recovery of 68% on the loan amount. To facilitate a transparent process and optimize the value of the asset, the loan was put up for sale through a Swiss auction, which involves a competitive bidding mechanism. The auction was concluded on June 27, with JM Financial ARC emerging as the main bidder. As no other interested parties came forward, the loan will be sold to the anchor bidder. ...

Read More

YEIDA will contest NCLT nod to Ace Infracity resolution plan for 3C Homes

Wednesday 5th July 2023

The Yamuna Expressway Authority (YEIDA) has decided to challenge the approval of a resolution plan for the Lotus City residential plots project in Sector 22 by the National Company Law Tribunal (NCLT) in June. The NCLT, consisting of Atul Chaturvedi and Bachu Venkat Balram Das, expressed satisfaction with the resolution plan amounting to Rs 140.39 crore, submitted by Ace Infracity Developers. They deemed it compliant with the provisions of the Insolvency and Bankruptcy Code (IBC) as well as the regulations set by the Insolvency and Bankruptcy Board of India (IBBI). The plan received a unanimous endorsement from the Committee of Creditors (CoC) with a 100% vote. However, YEIDA intends to challenge this approval. ...

Read More

L&T Finance sells real estate loans to Phoenix ARC for over Rs 1,000 crore

Tuesday 4th July 2023

According to individuals familiar with the matter, L&T Finance, a subsidiary of the publicly listed L&T Finance Holdings, recently conducted an auction where they sold a distressed portfolio of loans worth ?1,800 crore to Phoenix Asset Reconstruction Company (ARC), which is backed by Kotak Mahindra Bank. Within this portfolio, there were six real estate accounts that were successfully sold for ?1,075 crore, resulting in L&T Finance recovering 60% of the total value. To facilitate the sale process, the finance company had earlier invited offers for ten accounts with a combined loan amount of ?3,022.5 crore, following a 15:85 structure. This invitation was made through a notice posted on the finance company's website in the early part of the previous month. ...

Read More

Piramal Capital & Housing Finance sells bad loans to Omkara ARC

Tuesday 4th July 2023

According to two sources familiar with the matter, Piramal Capital & Housing Finance has successfully sold a pool of bad loans with an outstanding amount of ?3,656 crore to Omkara ARC for ?625 crore. The sale, which was concluded last week, resulted in Piramal recovering 17% of the total value. The loan pool comprises accounts obtained through the acquisition of Dewan Housing Finance Limited (DHFL) as well as Piramal's own loan book. ...

Read More
jcb truck1 car1 car2 truck2

Have Questions on RERA ? Have free discussion on email.

About RERA Filing

About Us
Site Map
Contact us
RERA Enquiry
Feedback
Become a Partner
Disclaimer
Privacy Policy

RERA Services

Agent Registration
Project Registration
RERA Training
Project Extension
Project Quarterly Compliances
Change in Bank Account
Change in Project Name
Apply for Completion of Project

Useful Links

RERA Blogs
RERA News
RERA Videos
RERA Fees calculator
Infographics
RERA Quiz
Research
Become an Expert
FAQ's
Events
RERA Services

RERA in states

RERA in Maharashtra
RERA in Karnataka
RERA in Telangana
RERA in Andhra Pradesh
RERA in Delhi
RERA in Uttar Pradesh
RERA in Haryana
RERA in Gujarat
RERA in Bihar
View All

info@rerafiling.com

+919818821514

Disclaimer - RERA Filing is an independent consultancy and not affiliated with any government authority. Information provided is for guidance only and does not constitute legal advice.

Copyright © 2025 RERA Filing. All rights reserved.

loader